Cove Capital: $18.7M San Antonio Multifamily DST Sold Out
Cove capital closed its $18.7 million San Antonio multifamily DST offering,marking a successful raise for the Peanut factory Lofts,a 102-unit complex.This debt-free acquisition, finalized in October 2024, targeted accredited investors seeking real estate investing opportunities through a 1031 exchange. The downtown San Antonio property, a converted peanut processing plant, offers unique architectural features and a prime location near key districts. The offering, which generated nearly $18.7 million in equity, underscores investor confidence in Cove Capital’s strategic approach. News Directory 3 might be interested in this. With a portfolio spanning over 2.5 million square feet, Cove Capital is actively pursuing more real estate investments. Discover what’s next for this real estate investment firm.
Cove Capital Completes $18.7M San Antonio Multifamily DST Offering
Updated May 30, 2025
Los Angeles-based Cove capital Investments, specializing in real estate investment partnerships, announced it has fully subscribed to its Cove San Antonio Multifamily 74 DST. The Regulation D, Rule 506(c) offering generated $18,679,418 in equity from accredited investors seeking real estate investing opportunities.
The DST offering focused on the Peanut Factory Lofts, a Class-A multifamily property featuring 102 units in downtown San Antonio, TX. cove Capital acquired the 96,184-square-foot property, a converted peanut processing plant dating back to 2014, without debt in October 2024. The building boasts unique architectural features, including repurposed silos and a three-bedroom penthouse.
The property’s location near San Antonio’s Southtown, Historic King William District, and Blue star Arts Complex adds to its attractiveness, according to the company.
Dwight Kay, managing member and founding partner, said the DST’s prosperous sellout shows “strong investor confidence” in Cove Capital’s capabilities and its “commitment to acquiring high quality assets” in key markets.
Chay Lapin, also a managing member and founding partner, added that investors valued the all-cash position, which “ensured closing certainty” for securing the unique asset.
What’s next
Cove Capital, with a portfolio exceeding 2.5 million square feet of real estate across 33 states, continues to seek strategic real estate investing opportunities nationwide.